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Spend, Send, And Receive Using Gold As Money From Your Mobile Device

December 18, 2020 1:41 pm
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Spend, Send, And Receive Using Gold As Money From Your Mobile Device

Coro Global was one of the speakers at the Benzinga Global Small-Cap Conference that took place on December 8-9, 2020

Simply put, the CORO mobile app from Coro Global Inc (OTC:CGLO) is the new way to use gold as money. Consider it a marriage between the timelessness of gold and the financial technology of the future.

With interest in cryptocurrency on the rise, there are plenty of folks that believe in the philosophy behind it, yet they haven’t had the ease of access to some of the real opportunities with how digital money moves. Imagine if your money maintained its value, was universally accepted and was instantly accessible from your mobile device — that’s CORO.

“Our mission is to make sure that we can democratize access to gold and bring forth a more sustainable financial system,” said David Dorr, Co-Founder of Coro Global Inc. “You want to have real gold but you need a digital manner to bring that forward.”

And that’s where the rubber meets the pavement. The CORO mobile app can be used to send, spend, and receive gold or dollars. This is real physical gold that’s held and insured. Customers maintain title to their gold at all times. Popular bank and ETF gold products only give their customers access to a pro-rata claim on pooled gold. Should anything go wrong with those products customers will find themselves waiting in line in court to get their gold.

Currency instability is spreading globally, with 6 countries experiencing inflation rates over 50% as a result of currency devaluation in 2019, and we know that gold maintains its value. 

Financial Inclusion

Gold transactions in 2019 were dominated by the jewelry business and people investing in gold, but when you look at mobile gold payments, “nobody’s out there, nobody’s doing that,” said Dorr. “That’s going to change, and it’s going to change in a dramatic way.”

The glaring gap here is that financial technology has not yet created financial inclusion. We see billions of smartphone users worldwide, yet over a third of those users aren’t accessing financial services. Those users have “more technology in their pocket than what NASA used to land a man on the moon,” said Dorr. “However, those same people with that same technology don’t have any access to basic financial services.”

Also worth noting, is that those who did access financial services conducted one trillion dollars in mobile payments in 2019.

Hashgraph Technology

On the technology side of the app, CORO uses hashgraph technology. “It's exponentially more exciting than any blockchain tech,” said Dorr.

And why is that?

Because it boasts instantaneous transactions with 100% accuracy, blazing-fast speeds of over 500,000 transactions per second, it’s super cyber secure. It's the only DLT that is asynchronous byzantine fault-tolerant, and it’s energy-efficient — there’s no mining or server farm. “This is very potent technology,” he continued.

The CORO app can be downloaded to your mobile device from the Apple App Store and the Google Play Store. Coro Global Inc is triple regulated, with the parent company being regulated by the SEC and Coro Corp being licensed by the U.S. Department of Treasury as a Money Services Business as well as having licenses in 20 states, along with the District of Columbia. It expects to operate in all 50 states in early 2021, with Mexico and Canada to follow. 

To learn more about Coro Global Inc and the CORO app, click here.

Photo by Dmitry Demidko on Unsplash